What Should be Taught in Intermediate Macroeconomics?
AbstractA lack of consensus remains on what should form the theoretical core of the undergraduate intermediate macroeconomic course. In determining how to deal with the Keynesian/classical divide, instructors must decide whether to follow the modern approach of building macroeconomic relationships from micro foundations, or to use the traditional approach based on aggregate models of the macroeconomy. In this article, the authors discuss the advantages and shortcomings of each approach in the context of course objectives. Because there is significant heterogeneity in textbook coverage, the authors summarize some of the approaches taken in current intermediate-level textbooks, which should serve as a useful starting point for new instructors. The authors also discuss how each approach can be extended to analyze the recent recession in the United States.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal The Journal of Economic Education.
Volume (Year): 44 (2013)
Issue (Month): 1 (March)
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Other versions of this item:
- Simpson, Nicole & de Araujo, Pedro & O'Sullivan, Roisin, 2012. "What should be taught in Intermediate Macroeconomics?," Working Papers 2012-01, Department of Economics, Colgate University.
- A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
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